“Schroders is a bank that makes millions. I don’t understand how they can exploit their workers in this way. And if they refuse to restore balance, we are ready to go on strike. The majority of the company’s cleaning staff have joined UVW because we know this union supports us and stands behind our demands.”

Victor Vargas, cleaner and UVW representative

The outsourced cleaners work for multinational investment bank Schroders through the contractor Peartree, to ensure the bank’s offices in central London remain spotless while being pushed to the limit. 

They are exhausted and have been overworked because staff cuts have forced us to do the job of two or three people.

“Why have they got rid of  staff, approximately 10 people, increasing the workload for those who remain? There used to be around 35 of us and now only 25 are left. This is workplace abuse and that’s why we are fighting. We are working twice as much as before. And I ask myself, where is the money they have saved by cutting staff? ” explains Víctor Vargas, cleaner and UVW representative.

On top of this, wage payments paid in the middle of the month are causing financial hardship and a complete lack of transparency around workload changes has made an already demanding job even more insufferable.

Schroders is a wealthy bank, yet the cleaners are overworked because they fail to provide adequate staffing. In 2024, the bank’s total assets reached a record £777.4 billion, with net flows of £1.6 billion in the first nine months, net new business of £3.9 billion and profit before tax of £276.3 million. Meanwhile, Peartree boasts an annual turnover of £28 million.

Clearly, both companies can afford to hire more cleaners, pay them fairly for all the work they do and ensure their wages are paid on time.

They are ready to vote to strike if negotiations don’t deliver the changes they need.